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AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

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Gains Considered Corrective

EURGBP TECHS
  • RES 4: 0.8512 High Mar 31
  • RES 3: 0.8477 2.0% 10-dma envelope
  • RES 2: 0.8405/8435 High Apr 11 / High Apr 4
  • RES 1: 0.8336/56 High Apr 20 / 50-day EMA
  • PRICE: 0.8303 @ 16:12 BST Apr 20
  • SUP 1: 0.8250 Low Apr 14 and key near-term support
  • SUP 2: 0.8203 Low Mar 7 and the bear trigger
  • SUP 3: 0.8144 2.0% 10-dma envelope
  • SUP 4: 0.8117 High Apr 7 2016

A bearish cycle in EURGBP remains intact and this week’s recovery is likely a correction. The sharp sell-off between Apr 11 - 14, strengthened the bearish condition. The cross traded below 0.8296, Mar 23 low, as well as 0.8276, 76.4% of the Mar 7 - 31 rally. This opens 0.8203, the Mar 7 low and the next bear trigger. Firm resistance is seen at 0.8405, Apr 11 high. A break would represent a short-term bullish development. Initial resistance is at 0.8336.

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  • RES 4: 0.8512 High Mar 31
  • RES 3: 0.8477 2.0% 10-dma envelope
  • RES 2: 0.8405/8435 High Apr 11 / High Apr 4
  • RES 1: 0.8336/56 High Apr 20 / 50-day EMA
  • PRICE: 0.8303 @ 16:12 BST Apr 20
  • SUP 1: 0.8250 Low Apr 14 and key near-term support
  • SUP 2: 0.8203 Low Mar 7 and the bear trigger
  • SUP 3: 0.8144 2.0% 10-dma envelope
  • SUP 4: 0.8117 High Apr 7 2016

A bearish cycle in EURGBP remains intact and this week’s recovery is likely a correction. The sharp sell-off between Apr 11 - 14, strengthened the bearish condition. The cross traded below 0.8296, Mar 23 low, as well as 0.8276, 76.4% of the Mar 7 - 31 rally. This opens 0.8203, the Mar 7 low and the next bear trigger. Firm resistance is seen at 0.8405, Apr 11 high. A break would represent a short-term bullish development. Initial resistance is at 0.8336.